Is Shiba Inu a Standalone Blockchain Platform?

Shiba Inu, known for its Ethereum-based token SHIB, has recently secured a noteworthy $12 million investment through a token sale, signaling a significant milestone in its journey. This funding will support the development of a new privacy-focused blockchain, potentially revolutionizing the decentralized finance (DeFi) landscape.

The $12 million investment showcases the strong support from investors, including Polygon Ventures, Mechanism Capital, Big Brain Holdings, and Shima Capital, who are backing Shiba Inu’s vision. This financial backing will drive the ambitious project forward.

The core of Shiba Inu’s initiative is the creation of a new privacy-focused blockchain operating as a Layer 3 protocol, building upon the existing Ethereum Layer 2 blockchain, Shibarium. By integrating cutting-edge technology like Fully Homomorphic Encryption (FHE) in collaboration with Zama, the blockchain aims to enhance data privacy and security in the decentralized ecosystem.

A central component of Shiba Inu’s blockchain ecosystem is the TREAT token, serving as a utility and governance token. Users can engage in ecosystem transactions and governance decisions using TREAT, fostering community involvement and empowerment.

Looking forward, Shiba Inu plans to introduce a new token named Shi to expand its token lineup, which currently includes SHIB, BONE, and LEASH. This diverse range of tokens will offer users more options to engage with the ecosystem. Learn more about Shiba Inu and its developments here.

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